黑料正能量

As the legendary political guru James Carville used to say, "It鈥檚 the economy, stupid." And these days with housing prices, inflation and the cost of living all pointing up in a very steep trajectory 鈥� the state of the economy is front and center for a lot of politicians, Americans and families as the year comes to a close.

There鈥檚 a lot to be considered, and that鈥檚 where experts like Augusta鈥檚 Dr. Simon Medcalfe are being sought out to explain economic trends what is behind them.

鈥淯.S. retail sales are high,鈥� explains Medcalfe 鈥淲e had a lot of stimulus checks coming through the door and that鈥檚 really spurred extra spending and it鈥檚 across a whole range of retail sectors.鈥�

According to Medcalfe, household items are also seeing double-digit price increases.

鈥淲hat we鈥檝e seen over the last 18 months during the pandemic, is听a shift in our consumer preferences and听consumer behavior.鈥�

鈥� Furniture sales are up 29%

鈥� Used cars and cars in general are up 25-26%

鈥� Gardening and building supplies are up 14%

鈥� Electronics have seen an almost 30% increase

鈥� Clothing sales are up a whopping 50%

But it鈥檚 not all good news - as the price of everything as we know is going up.

鈥淚nflation is running about 6.8% nationally,鈥� Medcalfe explains. 鈥淚t鈥檚 running about 7.2% in the south and it鈥檚 certainly a concern of policymakers and economists.鈥�

But theirs is sunshine behind those clouds as Medcalfe believes 2022 will see a return to normal.

鈥淚 think next year inflation will come down. I know it won鈥檛 be at these high levels, but I still think it鈥檒l be above the Feds target level of inflation, so look for those interest rate increases next year.鈥�

The economy and what to expect locally and nationally are hot topics 鈥� and if you are a reporter covering this topic 鈥� that鈥檚 where we can help.

Dr. Simon Medcalfe is a highly regarded economics expert and the Cree Walker Chair in the Hull College of Business at 黑料正能量. Medcalfe is available to speak with media regarding the economy and its outlook 鈥� simply click on his icon now to arrange an interview today.